AGBS31 ] Please Note: Financial statements are formal documents, so they must be typed for this assignment. Any hand-written financial statement will receive a score of zero. Also, presentation matters for financial statements. For example, acronyms and abbreviations are not allowed on financial statements. The statements are required to be neat, organized, easy-to-read, and easy-to-follow. The formats presented in class are good ones to follow (but are by no means the only acceptable format). Using the attached Adjusted Trial Balance, prepare Jablonskis Golden Acres financial statements for the end of the year. Complete each statement on its own page in the following order: A) Income Statement for 2021 (23 points) B) Statement of Owner Equity for 2021 (17 points) C) Balance Sheet for December 31, 2021 (33 points) D) Cash Flow Statement for 2021 (22 points) It is expected that proper formatting will be used in regard to the document title, headings, sub- totals, etc. Improper formatting will lose points. You are to put together financial statements, not just determine net income or owner equity.

Credits Debits 27.500 4,700 62,000 8,900 11,100 2.400 65,000 125,000 11,300 975,800 21.000 ADJUSTED TRIAL BALANCE Jablonski's Golden Acres For December 31, 2021 Accounts Cash Accounts Receivable Feeder Livestock Inventory Ralsed for Sale Feed Inventary Purchased for use Crop Invertory Raised for Sale Prepaid Expenses Breeding Livestock Machinery & Equipment Office Furniture and Equipment Land, Buildings and improvements Investment in cooperatives Accumulated Depreciation Accounts Payable Taxes Payable Interest Payable Nates Payable Noncurrent Notes Payable Due within One Year Real Estate Notes Payable Nancurrent Real Estate Notes Payable Due within One Year Retained Capital Owner Withdrawals Non-Farm Income Other Capital Contributions/Gifts/Inheritance Cash Crop Sales changes in Crop Inventories Cash Sales at Market Livestock Changes in Market Livestock Inventories Proceeds from Government Programs Change in Accounts Receivable Purchased Feed Change in Purchased feed Inventory Wages Expense Payroll Tax Expense Repairs and Maintenance expense Small Tools and Supalies Fuel, Oil, Cas, Grease Fertilizers Electricity Veterinarian, Vaccinations, Medications Water Depreciation Expense Change in Accounts Payable Change in Prepaid Expenses Interest Expense Change in Interest Payable Gains/Losses on Sales of Farm Capital Assets Extraordinary Gains Income Tax Expense Changes in Taxes Payable 78,000 2,800 8,500 2.100 92,400 12,500 13.900 767,400 758,800 3,800 64,600 146,000 15,800 138,00 18,000 18.100 35,700 400 31.300 3,300 48.000 12.000 9.900 3,500 47,600 10,500 25,300 12,600 36,400 24.200 1.800 2,000 17,200 1400 3,200 7,000 11.900 3,600 Jablonski's Galden Acres LEDGER Cash Account Date Description Beginning Balance 2-Jan Cash sale of market livestock 15-Jan Pald employee 21-lan Income tax payment 4-Feb Loan payment principal 4-Feb Loan payment interest 18-Feb Purchased new computer 7-Mar Cash crop sale 15-Apr Paid taxes 28-Apr Purchased truck 1-May Borrowed money to buy land 5-May Purchased land 6-Jun Purchased supplies 30-Jun Purchased seed 3-Jul Purchased chemicals 25-Jul Cash sale of market livestock 9 Aug Paid property taxes 23-Aue Loan payment principal 23-Aug Loan payment interest 9 Sep Sald some breeding livestock 10-Oct Received crop Insurance proceeds 18-Oct Paid vet bill 11 Nav Transfer to personal checking account 24-Nov Paid neighbor for hauline 12-Dec Paid payroll taxes 24-Dec Purchased new insurance policy Debits Credits Balance 8,000 34,500 42,500 8,000 34,500 2,400 32,100 1,500 30,600 500 30.100 700 29,400 33,000 62,400 15,000 47,400 28,700 18,700 72,000 90,700 76,500 14,200 1,800 12,400 3,600 8,800 7,900 900 36,000 38,900 7,800 31,100 12,000 19,100 1,200 17,900 4,900 22,700 18,000 40,700 1,400 39,300 4,600 34,700 1,500 33,200 4,800 28,400 900 27.500 NOTE: The entries recorded here do not necessarily correspond with the information in the Adjusted Trial Balance. This is a completely separate exercise. Credits Debits 27.500 4,700 62,000 8,900 11,100 2.400 65,000 125,000 11,300 975,800 21.000 ADJUSTED TRIAL BALANCE Jablonski's Golden Acres For December 31, 2021 Accounts Cash Accounts Receivable Feeder Livestock Inventory Ralsed for Sale Feed Inventary Purchased for use Crop Invertory Raised for Sale Prepaid Expenses Breeding Livestock Machinery & Equipment Office Furniture and Equipment Land, Buildings and improvements Investment in cooperatives Accumulated Depreciation Accounts Payable Taxes Payable Interest Payable Nates Payable Noncurrent Notes Payable Due within One Year Real Estate Notes Payable Nancurrent Real Estate Notes Payable Due within One Year Retained Capital Owner Withdrawals Non-Farm Income Other Capital Contributions/Gifts/Inheritance Cash Crop Sales changes in Crop Inventories Cash Sales at Market Livestock Changes in Market Livestock Inventories Proceeds from Government Programs Change in Accounts Receivable Purchased Feed Change in Purchased feed Inventory Wages Expense Payroll Tax Expense Repairs and Maintenance expense Small Tools and Supalies Fuel, Oil, Cas, Grease Fertilizers Electricity Veterinarian, Vaccinations, Medications Water Depreciation Expense Change in Accounts Payable Change in Prepaid Expenses Interest Expense Change in Interest Payable Gains/Losses on Sales of Farm Capital Assets Extraordinary Gains Income Tax Expense Changes in Taxes Payable 78,000 2,800 8,500 2.100 92,400 12,500 13.900 767,400 758,800 3,800 64,600 146,000 15,800 138,00 18,000 18.100 35,700 400 31.300 3,300 48.000 12.000 9.900 3,500 47,600 10,500 25,300 12,600 36,400 24.200 1.800 2,000 17,200 1400 3,200 7,000 11.900 3,600 Jablonski's Galden Acres LEDGER Cash Account Date Description Beginning Balance 2-Jan Cash sale of market livestock 15-Jan Pald employee 21-lan Income tax payment 4-Feb Loan payment principal 4-Feb Loan payment interest 18-Feb Purchased new computer 7-Mar Cash crop sale 15-Apr Paid taxes 28-Apr Purchased truck 1-May Borrowed money to buy land 5-May Purchased land 6-Jun Purchased supplies 30-Jun Purchased seed 3-Jul Purchased chemicals 25-Jul Cash sale of market livestock 9 Aug Paid property taxes 23-Aue Loan payment principal 23-Aug Loan payment interest 9 Sep Sald some breeding livestock 10-Oct Received crop Insurance proceeds 18-Oct Paid vet bill 11 Nav Transfer to personal checking account 24-Nov Paid neighbor for hauline 12-Dec Paid payroll taxes 24-Dec Purchased new insurance policy Debits Credits Balance 8,000 34,500 42,500 8,000 34,500 2,400 32,100 1,500 30,600 500 30.100 700 29,400 33,000 62,400 15,000 47,400 28,700 18,700 72,000 90,700 76,500 14,200 1,800 12,400 3,600 8,800 7,900 900 36,000 38,900 7,800 31,100 12,000 19,100 1,200 17,900 4,900 22,700 18,000 40,700 1,400 39,300 4,600 34,700 1,500 33,200 4,800 28,400 900 27.500 NOTE: The entries recorded here do not necessarily correspond with the information in the Adjusted Trial Balance. This is a completely separate exercise